- Release Date: 22/04/15 09:00
- Summary: GENERAL: GMT: GMT Issues Long Term Debt
- Price Sensitive: No
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GMT 22/04/2015 09:00 GENERAL PRICE SENSITIVE REL: 0900 HRS Goodman Property Trust GENERAL: GMT: GMT Issues Long Term Debt Goodman (NZ) Limited, the Manager of Goodman Property Trust, is pleased to advise that it has completed a United States Private Placement ("USPP") debt issue securing US$120 million of long term funding. The debt issue includes three equal tranches of US$40 million with terms of 10, 12 and 15 years. Strong demand from US debt investors ensured competitive pricing with coupons of 3.46%, 3.56% and 3.71%. Andy Eakin, Chief Financial Officer of the Manager said, "We are extremely pleased with the very high level of demand our USPP offer has generated and the confidence these investors have shown in our business. Securing long dated funding from non-bank lenders is a positive initiative that increases the diversity and tenor of the Trust's debt facilities while providing capacity for pending expiries." Swapping the issue back to NZ dollars mitigates any currency risk with the effective pricing of the new facilities reflecting margins of 1.99%, 2.05% and 2.20% above the BKBM. The funding will be drawn on 15 June 2015 with the proceeds of the issue being used to repay the Goodman+Bonds maturing on 19 June 2015. The issue extends the weighted average term to expiry of GMT's debt facilities from 2.6 to 4.7 years, at this date. An updated debt maturity profile is attached as an appendix to this announcement. For more information please call: Andy Eakin Chief Financial Officer Goodman (NZ) Limited (09) 375 6077 (021) 305 316 End CA:00263394 For:GMT Type:GENERAL Time:2015-04-22 09:00:51
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- Ann: GENERAL: GMT: GMT Issues Long Term Debt
Ann: GENERAL: GMT: GMT Issues Long Term Debt
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